5 things to know before the stock market opens Friday, Sept. 17
Here are the most important news, trends and analysis that investors need to start their trading day:
The Wall St. sign is seen near the New York Stock Exchange (NYSE) in New York City, May 4, 2021.
Reuters fell Friday, marking a key date, Sept. 17, that’s historically ushered in a rough patch for the market in an already traditionally tough month.| Reuters
U.S. stock futures fell Friday, marking a key date, Sept. 17, that’s historically ushered in a rough patch for the market in an already traditionally tough month. The Dow Jones Industrial Average declined Thursday, though it ended way off session lows. The S&P 500 dipped as well, while the Nasdaq bucked the trend and rose slightly. Despite the September angst, all three stock benchmarks were tracking for weekly gains. Ahead of Friday’s open, the Dow, S&P 500 and Nasdaq weren’t too far from their recent record closes — about 2.5%, 1.4%, and 1.3% away respectively.
Traders work on the floor of the New York Stock Exchange (NYSE) in New York, on Monday, Aug. 23, 2021.
Michael Nagle | Bloomberg | Getty Images
Coinciding with seasonal factors stacked against Wall Street, it’s also “quadruple witching” Friday, the simultaneous expiration of stock options, index options, stock futures and index futures. Next week, the Federal Reserve holds its two-day September policy meeting, leaving investors already on edge this month to read the tea leaves on when central bankers might start tapering their massive Covid-era bond buying. So far in September, as of Thursday’s close, the Dow was down 1.7%; the S&P 500 was down 1.1%; the Nasdaq was down 0.5%. All three of them were nevertheless up over the past year.
Jerome Powell, chairman of the U.S. Federal Reserve, arrives for a Senate Banking Committee hearing in Washington, D.C., on Thursday, July 15, 2021.
Getty Images Fed Chairman has called for a review of the central bank’s ethics rules for appropriate financial activities after that several senior Fed officials held significant investments and others made multimillion-dollar stock trades in 2020.| Bloomberg | Getty Images
Fed Chairman Jerome Powell has called for a review of the central bank’s ethics rules for appropriate financial activities after disclosures revealed that several senior Fed officials held significant investments and others made multimillion-dollar stock trades in 2020. The last year saw extraordinary measures taken by monetary policymakers to help the economy collapse during the Pandemic. New of the Powell inquiry followed Sen. Elizabeth Warren, D-Mass., sending 12 letters to the Fed’s regional bank presidents demanding stricter ethics.
Nurse Samantha Reidy gives Alan Kramer, 74, a cancer patient, his Pfizer-BioNTech Covid-19 booster shot at Hartford Hospital in Hartford, Connecticut on August 24, 2021.
Getty Images A key part of President ‘s plan to combat Covid as a FDA vaccine advisory committee meets Friday to debate and vote on ‘s application to offer vaccine booster shots to the general public.| AFP | Getty Images
A key part of President Joe Biden‘s plan to combat Covid could be in jeopardy as a FDA vaccine advisory committee meets Friday to debate and vote on Pfizer‘s application to offer vaccine booster shots to the general public. Even though scientists from at least two FDA agencies have stated that not all Americans who have received Pfizer’s 2-dose vaccine are convinced they need a third, the FDA has also called for the gathering. The vote on Friday could stop the Biden administration from distributing boosters in the week ahead.
US President Joe Biden delivers remarks and participates in the virtual Leaders Summit on Climate Session 5: The Economic Opportunities of Climate Action from the White House in Washington, DC, on April 23, 2021.
AFP | AFP | Getty Images
Biden convenes world leaders Friday for a discussion about efforts to tackle climate change, seeking to build momentum ahead of an international summit on global warming later this year. Biden, who has repeatedly stressed the importance of climate change in domestic and international contexts, in recent weeks after devastating wildfires and floods throughout the U.S., is trying to get support from big emitters for making the U.N.’s upcoming climate conference in Glasgow, Scotland (Oct. 31-Nov 12).